Client news and recent transactions
from Crescenda.

Crescenda is continually in the process of linking buyers and sellers of businesses.
The links on this page will take you to details on our most recent client transactions and
other Crescenda news and activities. Check back for the latest updates.

Founded in 2004, ATI has grown to become one of the largest and highest regarded neck and back treatment clinics in the Twin Cities. "Active Therapeutics is a very customer-focused clinic that understands the importance of the patient/provider relationship. Adding it to Odom Health and Wellness’s portfolio will enhance our state-of-the-art outpatient sports medicine and functional wellness company," said John Odom, M.D., owner and President of Odom Health & Wellness. "ATI’s treatment protocols employ the industry’s gold standard of medical-grade technology and they complement our philosophy of providing specialized, effective care to patients managing chronic pain and injury rehabilitation."

"As everyone knows, healthcare in this country is going through major changes and it is becoming more difficult to remain independent”, adds Dr. Odom. “This acquisition allows us to expand our treatment options, providing us a more comprehensive offering to a referral base of physicians wanting to optimize their patients’ outcomes and quality of life."

Odom Health & Wellness utilizes a multi-disciplinary approach to maximize results for sports medicine, functional medicine, rehabilitation, nutrition, fitness and other areas that lead to an active, healthy and fulfilling life. Striving to remain at the forefront of integrative medicine, Odom Health & Wellness provides progressive treatments such as platelet rich plasma injection, prolotherapy, massage, Graston Technique and other therapies.

"We received several offers but are very pleased to have found the right buyer to continue offering the quality of neck and back rehabilitation and conditioning our patients have come to expect," said Howie Milstein, owner/partner in ATI. His partner, Dr. Michael Sudit, added, "Active Therapeutics was built on a reputation of quality care and positive outcomes and Dr. Odom and his excellent staff will continue that legacy."

Odom Health & Wellness is a state-of-the-art health and wellness clinic and is based in Minnetonka, Minnesota.

CRESCENDA ANNOUNCES THE SALE OF CADY CHEESE FACTORY

Minneapolis, Minnesota, November 21, 2012 – Crescenda Investment Banking Advisors announced that its client, Cady Cheese Factory, Inc. has been acquired by Burnett Dairy Cooperative. The deal closed on November 15.
Cady is a specialty cheese manufacturing, distribution and retail marketing company located in Wilson, WI, which began as a small farmers’ co-op around the year 1908. Dale and Wendy Marcott bought the company in 1978 and built it into one of the most innovative, technologically advanced and automated cheese plants in the country. Cady produces over 50,000 pounds of different varieties of longhorn cheeses each day and does over $30 million in annual sales.

"We've had a good run," commented Dale Marcott. "My wife Wendy and I are very proud of what we have built over the past 34 years and the quality of the cheeses we manufacture. As we considered retirement, we were looking for a buyer known for their quality that will not only maintain our standard of excellence but has the resources to expand production and product variety. Burnett is a perfect match."

“This strategic acquisition will allow our farmer-owned cooperative to promote our dairy farmers and our world-class cheese products, on a branded platform in key retail, grocery and deli operations, nationwide,” said Dan Dowling, CEO of Burnett Dairy Cooperative. “Currently, a majority of our award-winning products are promoted in the premium food service industry with very little emphasis and focus on the retail segment. This acquisition will provide us the necessary tools to develop and execute an immediate focus in these retail markets while maintaining our dedication to our customers in the food-service industry."

In addition to balancing their go-to-market strategy for food service and the newly added retail markets, Burnett will be able to better balance their milk markets in volatile trading environments and add significant manufacturing capacity for quality cheese and whey products. It will also allow Burnett Dairy to complement its existing product portfolio of award-winning Italian cheese (Mozzarella and Provolone) and premium artisan cheddar products with the award -winning lineup of the Cady Cheese Factory’s specialty cheddar products with specific emphasis on deli-horn Colby.

About Burnett Dairy Cooperative
Burnett Dairy Cooperative is a farmer-owned cooperative established in 1896 and today employs over 250 people with $135 million in annual sales. Burnett Dairy Cooperative is a uniquely diversified company with two vertically integrated divisions; the foods division and the Ag-Services division.

The foods division produces world-class, award-winning cheese products for both retail and food service companies. The Ag-Services division manufactures and markets feed and nutrition products for dairy cows, crop inputs, and energy services which include refined fuels and propane. Both divisions serve their member-owners with unique products, services and markets for their locally produced milk and grain products.

Crescenda has announced that its client Immedia, a highly successful specialty printing company in Minneapolis, has been sold to Liberty Diversified International.

Type of business:
Immedia is focused on developing displays and graphics for retail environments, from design and prototyping through printing, fabrication, kitting and distribution. They use state-of-the-art screen, digital and digital photographic equipment.

Employees:
Nearly 200 in three Minnesota plants.

Clients:
Immedia has produced work for over 150 clients worldwide – from entrepreneurial start-ups to Fortune 100 companies.

Seller/Buyer:
GML was founded in 1958. Since that time, through a combination of organic growth and select acquisitions, the company has grown to serve product design, development, manufacturing and assembly clients as well as materials manufacturers. In 2003, GML (now known as Innovize) created Immedia, a separate company for the retail business to focus entirely on in-store displays and graphics. Immedia was a wholly-owned subsidiary of The Integris Group.
According to Integris CEO, John Ledy, “the sale of Immedia provides certain Ledy family members an opportunity to plan their retirement and will allow me to concentrate on growing our core business at Innovize.”

Liberty Diversified International has over 1,400 employees and is comprised of nine companies competing in five markets, and is one of the largest privately held companies in the Midwest. “By purchasing Immedia, we are expanding our presence in the point-of-sale display market, gaining access to state-of-the-art design and production facilities, and adding knowledgeable, innovative and creative employees to the LDI family,” said Mike Fiterman, LDI President and CEO.

Crescenda announces
the sale of DigiGraphics, Inc.

Minneapolis, Minnesota – Crescenda Investment Banking Advisors announced that its client, DigiGraphics, Inc. was acquired by Imagine Print Solutions, Inc. The deal closed last week.
Founded in 1979, DigiGraphics has grown to become one of the highest quality large format digital print providers in the Midwest. Providing large format graphics, museum display graphics, and environmental signage in a custom built, state-of-the-art facility, DigiGraphics offers a full range of digital inkjet and photographic print and fulfillment services. DigiGraphics also offers customers direct to fabric printing capabilities, custom framing and large format fine art printing and scanning.

"DigiGraphics is a highly customer-focused company that will enhance our print-on-demand initiative and continue to expand our capabilities as we look for additional ways to service our clients efficiently," commented Bob Lothenbach, owner and President of Imagine Print Solutions. "Our acquisition strategy is to develop a complementary set of companies to solve our customers’ design, print and distribution requirements. DigiGraphics is an excellent first acquisition for us.”
Craig Mandery, Vice President of Imagine added, "DigiGraphics has diversified itself well beyond photo reproduction and traditional ink on paper printing to provide an end-to-end solution, including consultation, output, mounting options, display hardware and installation. We expect significant synergies will be created between our two companies.”

Bob Remakel, owner and President of DigiGraphics commented, "Partnering with Imagine Print Solutions will bring DigiGraphics additional capabilities and resources that will allow DigiGraphics to expand our service offerings to our customers while remaining independent. We look forward to working with Imagine! to create new opportunities for our customers and employees."
Remakel added, “We had been approached by other companies, but I believe the partnership with Imagine will allow us to continue to build DigiGraphics by providing the support and financial resources to grow much faster than we would be capable on our own”
Imagine Print Solutions, Inc., headquartered in Minneapolis, Minnesota, has sales of $157 million and is North America's leading independent large format and commercial printing company. With over 600,000 square feet of production space under one roof and a growing network of affiliate companies Imagine offers unsurpassed capabilities, and the highest level of technology, efficiency and service. With our national sales force in virtually every region of the country they are able to provide service and consultation at a moment’s notice.

www.imagineps.comwww.digidigi.comAbout Crescenda, LLC
Crescenda is a mergers and acquisitions intermediary and investment banking advisory firm specializing in representing privately held businesses in the sale of their companies.

Crescenda announces
the sale of Lakehead Sign

Minneapolis, Minnesota – Crescenda Investment Banking Advisors announced that its client, Lakehead Sign Company of Duluth, MN has been acquired by Advanced Design Awnings & Signs.

Lakehead Sign Company was founded in 1970 specializing in neon signage. Over the past four decades, Lakehead has grown as a result of repeat business and excellent referrals from accounts in need of installation service including Target Corporation, Holiday Inn, University of Minnesota – Duluth and many others.

According to Lakehead CEO, Jeff Tyllia, “the sale of Lakehead provides me an opportunity to focus on my responsibilities as Executive Vice President of Hunt Electric Corporation where I am in charge of business development.” He added, "I also feel that Advanced Design is better positioned to grow Lakehead and develop the company I always envisioned."

Advanced Design Awnings & Signs is a leader in the design, fabrication, and installation of fabric, vinyl, illuminated, and metal awnings and canopies. Located in Cloquet, Minnesota, they also specialize in manufacturing Channel Letters and Illuminated Signs that are installed in Minnesota and Wisconsin and elsewhere in the United States. “By purchasing Lakehead, we are expanding our presence in the sign industry and gaining access to Lakehead's design and production facilities, adding knowledgeable, innovative and creative employees to the Advanced Design family,” said Chris Mathews, Advanced Design's Owner and President.

The sale was handled by Crescenda Investment Banking Advisors, Minneapolis.

About Crescenda
Crescenda, LLC is an investment banking advisory and mergers & acquisitions intermediary specializing in the sale of privately held, family-owned companies.

For more information, please contact Jim Odney, Managing Director at (763) 545-1886 or at jim@crescenda.com.

Crescenda announces
the sale of Otter Tail subsidiary

Minneapolis, Minnesota – Crescenda Investment Banking Advisors announced that its client, Moorhead Electric, Inc. (MEI), was acquired by Parsons Electric, LLC. MEI is owned by Aevenia, Inc. a subsidiary of Otter Tail Corporation. The deal closed on October 20.

Moorhead Electrics' origins date back over 40 years to 1967 when the company was founded in Moorhead, Minnesota. Since then, MEI has grown into one of the largest and most highly respected electrical contracting companies in the Midwest. MEI has both a regional and national presence providing a full range of design-build, installation and support services for many blue chip clients including Archer Daniels Midland, Sanford Health, Anheuser Busch, Caterpillar and American Crystal Sugar.

Joel Moryn, President of Parsons said, "Turn-key design-build services for new construction and preventative maintenance for industry are the hallmark of both MEI and Parsons Electric, and since we have worked with MEI in western Minnesota and North Dakota, this was a natural acquisition." Moryn added, "MEI has a strong reputation as a leading electrical contractor in the Midwest and coupled with their strong commitment to providing cost-effective solutions and client services support, they will allow us to continue experiencing solid financial performance in 2013 and beyond.”

Founded in 1927, Parsons is one of the Nation’s premier electrical and technology service providers and was recently ranked as the 21st largest by revenue in the U.S. by Engineering News Record. They are an established leader in the construction services industry providing quality design, construction, service and maintenance to their customers.

Otter Tail Corporation is headquartered in Fargo, North Dakota. They own companies in the electric utility and infrastructure businesses, which include manufacturing, construction, and plastics. The company trades on the NASDAQ Global Select Market under the symbol OTTR and is dedicated to creating long-term value and growth for customers, shareholders, and employees by being among the country’s leading diversified organizations with a strong electric business as its foundation.

Crescenda announces
the sale of Roffe Container, Inc.

Minneapolis, Minnesota – Crescenda Investment Banking Advisors announced that its client, Roffe Container, Inc., a plastic container manufacturer located in Moorhead, Minnesota, was acquired by Consolidated Container Company (CCC).
CCC also signed a separate lease for a manufacturing site and will begin the installation and build-out of a multi-line production plant in Lakeville, Minnesota, just outside of Minneapolis - St. Paul.

Jeffrey Greene, President and Chief Executive Officer of CCC, said, “One of CCC’s unique competitive advantages is our nationwide manufacturing platform, and this acquisition expands that network into one of the few geographic areas where we do not have a presence. The addition of the Moorhead facility and the opening of a greenfield in the Minneapolis-Saint Paul area will enhance CCC’s ability to serve key regional and national customers in the dairy and industrial markets in the Upper Great Lakes and Northern Great Plains regions.”

Tom Janas, owner and president of Roffe Container, stated, “The timing of this transaction and Consolidated Container’s commitment to growing in the region aligned perfectly with our objectives. This is an exciting outcome for the employees and customers of Roffe Container.”

The acquisition closed on Friday, September 7 and CCC expects to complete the initial build-out of the Lakeville facility sometime next year.

Consolidated Container Company
Consolidated Container Company is a leading developer and manufacturer of rigid plastic packaging solutions in North America. Consolidated Container Company specializes in customized mid- and short-run packaging solutions, serving a diverse customer base in the dairy, large-format water, beverage, food, household chemical, automotive, and specialty chemical markets.

With 59 manufacturing facilities and 2,100 employees, CCC has an integrated, nationwide network of manufacturing and service locations to deliver reliable and cost-effective packaging solutions to meet the needs of a wide range of customers and markets. CCC provides standard and custom packaging solutions to its customers.

From its state-of-the art Panella Engineering and Development Center to its experienced manufacturing teams across its network, CCC delivers high performance, cost-effective design solutions to meet even the most challenging container applications.